is Arkansas state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured mortgage, be sure to call Moring & Associates, as we are approved and qualified to produce FHA appraisals.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Moring & Associates is well-trained on how to comply with the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA loan, it means it is backed by them.
The FHA does not loan money to borrowers. Rather, it provides lenders with security with mortgage insurance in case the borrower defaults on his or her financial obligations.
Applicable to all buyers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Unlike the VA appraiser panel, the lending agency working with FHA actually has the freedom to pick the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Those with lesser incomes or less starting money to use as a down-payment on a mortgage are assisted the most from FHA loan programs.